Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels. The company offers memory products for the cloud server, enterprise, client, graphics, networking, industrial, and automotive markets, as well as for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer storage markets; discrete storage products in component and wafers; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its direct sales force, independent sales representatives, distributors, and retailers; and web-based customer direct sales channel, as well as through channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

Micron looks like a company with very strong operational performance, but the market is already pricing in significantly more than what the individual multiples justify. The P/E ratio is below the industry median, which by itself supports the valuation; however, P/S, P/B, and P/FCF are materially above industry benchmarks, which usually means investors are paying a premium for expectations of further growth. At the same time, the business quality is indeed high: ROE, ROA, ROI, and return on tangible equity are at very strong levels and noticeably above the median, and their trend has improved over recent periods. Margins are also impressive: gross margin, operating margin, and net profit margin have increased and remain at high levels, indicating good cost control and strong pricing power. Revenue, gross profit, EBITDA, operating profit, and net profit over the 5-year period have risen sharply, confirming not a one-off effect but a substantial improvement in the business. The balance sheet looks solid: cash on hand is high, the current ratio and quick ratio are comfortable, and debt/equity is very low and declining, which reduces financial risk. The reduction in long-term debt alongside growth in equity and assets is an additional positive for balance sheet quality. The weakness in the valuation is the very high absolute premium on revenue and book value, which limits the potential for further re-rating. Dividend yield, by contrast, has declined and remains low, so the dividend factor provides almost no support to the target price. Overall, the company’s fundamentals are strong, but the current market valuation already reflects much of this progress, so only a moderate conservative downward adjustment is appropriate for the target forecast. For an investor, this is not a story about cheapness, but about a high-quality business with strong earnings and a strong balance sheet that trades at a notable premium to the industry.

Micron Technology, Inc.

Сильный индекс, без изменений. Быки в растерянности.

Strong index, flat. The bulls are confused.

Слабый индекс, без изменений. Уверенность медведей остается на низком уровне.

Weak index, flat. Bearish confidence remains low.

Сильный индекс, значительно вырос. Рынок на стороне быков.

Strong index, significantly up. The market is on the bulls' side.

Сильный индекс, без изменений. Рынок не поддерживает медведей.

Strong index, flat. The market does not support the bears.

Слабый индекс, незначительно упал. Приток средств в лонги остается на невысоком уровне.

Weak index, slightly down. The inflow of funds into longs remains at a low level.

Сильный индекс, без изменений. Отток средств из шортов на высоком уровне.

Strong index, flat. Outflow of funds from shorts at a high level.

Micron’s strong profitability and balance sheet support the valuation, but high P/S, P/B, and P/FCF ratios indicate an already expensive market premium.

Key Points
Investors are increasingly concerned about the high levels of AI spending.
Rising interest rates, higher-than-expected inflation, and concerns about scarce capital for AI investments are putting pressure on Micron today.
Shares of Micron Technology (NASDAQ:MU), a leading semiconductor company, were tumbling today as investors continued to worry that a slowdown in artificial intelligence spending could be imminent.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Recent comments made by Nvidia's CEO added to their concerns, as he said that available capital is scarce for more growth in the AI cloud market.
Shares of Micron stock were down by 5.2% as of 1:33 p.m. ET.
Image source: Getty Images.
AI spending continues to draw the ire of investors
Investors are growing increasingly concerned that the leading technology companies are spending too much money on artificial intelligence and not delivering sufficient sales and earnings.
For example, Meta stock is sliding today even though its top- and bottom-line results beat Wall Street's consensus estimates. Shareholders, instead, latched onto the fact that Meta will spend $135 billion to $145 billion in capital expenditures this year.
The skeptical sentiment Meta shareholders have is spilling over to the broader market and sending Micron's shares falling. Micron is a leading memory and storage provider for AI data centers, so any worry that companies are overspending means investors think a slowdown could be around the corner.
Making matters worse for Micron stock today was that CNBC reported that Nvidia CEO Jensen Huang said today that while there's lots of demand for AI data center infrastructure, capital is scarce.
That wasn't reassuring for Micron shareholders, considering the company relies on AI leaders to make significant investments in hardware and data centers.
Broader economic concerns are also affecting AI stocks
In addition to the questions surrounding AI spending, investors are concerned about rising economic pressures. The Federal Reserve recently raised interest rates and has hinted they may do so again soon.
Rising rates could put pressure on tech companies' spending as it makes borrowing more expensive. That's coming on top of rising oil prices from the U.S. war with Iran, and recent reports of inflation rising faster than expected.
When added altogether, AI stocks took the brunt of the sell-off sentiment and took Micron down with them.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $350,756!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,363,905!*
Now, it’s worth noting Stock Advisor’s total average return is 922% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 22, 2026.
Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Why Micron Stock Is Falling Hard Today

Key Points
Micron stock jumped 239% in 2025 and has more than tripled so far in 2026.
After the memory maker's past booms, its stock fell while its full-year profits still looked strong.
Micron's DRAM price gains slowed sharply from its fiscal third quarter to its fiscal fourth quarter.
Shares of Micron Technology (NASDAQ:MU) have climbed about 10-fold from their 2024 closing price of about $84. The memory maker's stock jumped 239% in 2025, and as I write it's more than tripled again this year, to roughly $903.
If the stock ends 2026 over about $571, it'll be just the second time Micron has put up back-to-back triple-digit years. The first was 1993 and 1994, when shares rose 146% and 137%. (These and the other annual numbers here are calendar-year price returns from year-end closes, without dividends.)
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Micron's own history doesn't rule out more gains. But after looking at what followed its past booms, I think investors should expect far less from here.
Image source: Micron.
The stock tends to fall before the profits do
After its 1993-94 run, Micron stock climbed another 80% in 1995. The shares peaked on Sept. 11, 1995, though, and ended the year around 58% off that high before sliding another 26% in 1996.
But the business hadn't peaked when the stock did. Micron made $328.5 million in its first fiscal quarter of 1996 (roughly September to November 1995), more than in any earlier quarter.
Then its memory chip prices slid faster than the company could lower its costs, and net income shrank to $188 million, then $58 million, then $19 million in the next three quarters.
The next two booms followed a similar pattern. Micron stock climbed 300% in 2009 and lost 24% in 2010. Yet fiscal 2010 (which ended in early September 2010) saw net income of $1.85 billion, a swing from a $1.9 billion loss a year earlier. The stock was looking ahead. In fiscal 2011, Micron's average DRAM selling prices slid 39%, and earnings sank around 91% to $167 million.
After a 243% gain in 2013, the shares climbed another 61% in 2014 and then fell 60% in 2015. Again, full-year profits still looked strong. Fiscal 2015 net income of $2.9 billion was just a bit under fiscal 2014's $3.0 billion.
By fiscal 2016, with DRAM prices off 35%, Micron had a $276 million loss.
In short, Micron's stock has tended to fall while its full-year profits still looked strong -- and before those profits dropped.
Has the turn already started?
The stock might already be repeating this pattern. Micron's shares hit a closing high of $1,213.56 in late June and now sit about 26% below it.
Yet Micron's earnings have kept climbing since then. In fiscal 2026, which ended Sept. 3, revenue grew to $133.2 billion, over 3.5 times the prior year's total. The company made $74.33 a share under generally accepted accounting principles, up almost tenfold from $7.59 in fiscal 2025.
But the rate of this growth is slowing. On a non-GAAP (adjusted) basis, Micron's per-share profit jumped 106% from fiscal Q2 to fiscal Q3, then rose 33% to $33.42 in fiscal Q4. Management's guidance of around $38.15 for fiscal Q1 2027 implies growth of about 14%. Pricing shows the same slowdown. Micron's DRAM prices rose by a percentage in the low 60s from the prior quarter in fiscal Q3, but only by a high-teens percentage in fiscal Q4.
Still, there's a key difference from past cycles. In every earlier bust, memory prices dropped. Now they're still rising, just slower.
"[W]e do not have line of sight to when supply and demand will return to balance," CEO Sanjay Mehrotra said in prepared remarks for the company's fiscal Q4 earnings call.
Of course, slowing price gains are arguably how a turn starts.
Investors are already paying for a downturn
At roughly $903, Micron's price-to-earnings ratio is about 12 on fiscal 2026 results. Against analysts' fiscal 2027 adjusted profit estimates, the shares trade at only about 5 times earnings.
A price-to-earnings ratio this low for a tech business growing this fast suggests the market doesn't expect those profits to last. (I've written before about how quickly memory makers' peak margins fell in past cycles.)
Still, I wouldn't bet on a repeat of 2025 or 2026. In the two years after its 2009 and 2013 booms, the stock lost about 40% and 35%. And even after 1994, investors had to ride out a 58% fall in late 1995.
Can Micron stock keep climbing from here? It can, especially if memory prices keep rising into 2027, and I think the shares are worth a look for long-term investors at this price. I'd just size a position with the next downturn in mind, because Micron's stock has usually started falling well before its profits do.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $376,696!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,333,920!*
Now, it’s worth noting Stock Advisor’s total average return is 925% — a market-crushing outperformance compared to 212% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 20, 2026.
Daniel Sparks and his clients do not have positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.

Can Micron Stock Keep Climbing After a 10-Fold Run? Here's What Its Past Booms Say.

The S&P 500 Index ($SPX) (SPY) is up by +0.57% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.11%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.52%. December E-mini S&P futures (ESZ26) are up +0.58%, and December E-mini Nasdaq futures (NQZ26) are up +1.51%.
Stock indexes are mostly higher today, with chipmakers and AI-infrastructure stocks leading the broader market higher after last week’s selloff. Earnings optimism is lifting stocks ahead of this week's earnings results from Meta Platforms, Tesla, and Netflix. Also, weaker crude oil prices today have improved market sentiment and are supportive of stocks.
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On the downside, homebuilders are under pressure after today’s US economic news showed the Oct NAHB housing market index fell 3 points to a 14-year low of 29, below expectations of 31.
Mostly better-than-expected Chinese economic news is positive for global growth prospects and stocks. China Q3 GDP rose +1.2% q/q and +4.5% y/y, stronger than expectations of +1.0% q/q and +4.4% y/y. Also, China's Sep industrial production rose +5.5% y/y, right on expectations and the largest increase in 6 months. In addition, China's Sep retail sales rose +1.1% y/y, stronger than expectations of +0.5% y/y and the largest increase in 6 months. Finally, China's Sep surveyed jobless rate unexpectedly fell -0.1 to 5.2%, below the expected 5.3% and signaling a stronger labor market. On the downside, China's Sep new home prices fell -0.14% m/m, the fortieth consecutive month of declines.
Stocks have support from the prospect of solid quarterly earnings results. According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of today, 45 of the S&P 500 companies have reported results, with 80% beating estimates.
Nov WTI crude oil prices (CLX26) are moving lower today on some profit-taking after last week's rally to a 5-week high. US Energy Secretary Wright said Persian Gulf oil flows have recovered to about 80% of their pre-war level, though refined-product shipments remain constrained. Crude oil prices have underlying support from concerns about disruptions to Middle Eastern energy supplies after Houthi rebels in Yemen targeted Yanbu in Saudi Arabia, a significant Red Sea port for Saudi oil exports that avoids the Strait of Hormuz, with missiles and drones. Also, the UK Maritime Trade Operations reported that two tankers were attacked in the Persian Gulf near Saudi Arabia's port city of Jubail over the weekend.
Markets are discounting a 17% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 fell to a 1-week low today and is down -1.18%. China's Shanghai Composite closed up +0.39%. Japan's Nikkei-225 Stock Average fell to a 1-month low and closed down -0.62%.
Interest Rates
December 10-year T-notes (ZNZ6) are down -4 ticks. The 10-year T-note yield is up +3.2 bp to 5.127%. Today’s stock rally has reduced safe-haven demand for government debt, weighing on T-notes. Losses in T-notes are limited amid some safe-haven buying due to the social unrest in France. Weaker WTI crude oil prices today are also lowering inflation expectations and supporting T-notes.
European government bond yields are moving higher today. The 10-year German bund yield is up +3.6 bp to 3.462%. The 10-year UK gilt yield is up +5.7 bp to 5.430%.
The German Bundesbank said in a report today that "inflation risks in the Eurozone are clearly tilted to the upside."
Markets are discounting an 8% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today, recovering some of last week’s rout. The iShares Semiconductor ETF (SOXX) is up more than +2%. SanDisk (SNDK) is up more than +6% to lead gainers in the S&P 500 and Nasdaq 100, and Western Digital (WDC) is up more than +6%. Also, Marvell Technology (MRVL) is up more than +5%, and Intel (INTC), Seagate Technology Holdings Plc (STX), Lam Research (LRCX), and Micron Technology (MU) are up more than +4%. In addition, Advanced Micro Devices (AMD) and Applied Materials (AMAT) are up more than +3%, and Analog Devices (ADI), KLA Corp (KLAC), Broadcom (AVGO), and Qualcomm (QCOM) are up more than +2%.
The Magnificent Seven stocks, excluding Meta, are up today, supporting broader market gains. Amazon.com (AMZN) is up more than +4% to lead gainers in the Dow Jones Industrials, and Tesla (TSLA) is up more than +3%. Also, Nvidia (NVDA), Alphabet (GOOGL), and Microsoft (MSFT) are up more than +1%. In addition, Apple (AAPL) is up +0.14%. Conversely, Meta Platforms (META) is down -0.87%.
Cloud infrastructure stocks are climbing today. Applied Digital (APLD) is up more than +8%, and Nebius Group NV (NBIS) and Lumentum Holdings (LITE) are up more than +3%. Also, CoreWeave (CRWV) and Arista Networks (ANET) aew up more than +2%, and Oracle (ORCL) is up more than +1%.
Home builders and building supplies are slipping today after the US Oct NAHB housing market index fell more than expected to a 14-year low. DR Horton (DHI) and Pulte Group (PHM) are down more than -2%, and Lennar (LEN), KB Home (KBH), Toll Brothers (TOL), and Builders Firstsource (BLDR) are down more than -1%.
Disc Medicine (IRON) is up more than +39% after announcing that its investigational drug bitopertin met all primary and secondary endpoints in a Phase 3 Apollo trial in adults and adolescents with erythropoietic protoporphyria.
Cleveland Cliffs (CLF) is up more than +13% after reporting Q3 adjusted Ebitda of $612 million, above the consensus of $591.5 million.
Datadog (DDOG) is up more than +5% after Bernstein upgraded the stock to outperform from market perform with a price target of $350.
NRG Energy (NRG) is down more than -5% to lead losers in the S&P 500 after Jeffries cut its price target on the stock to $131 from $160.
Ameriprise Financial (AMP) is down more than -3% after Bank of America Global Research double-downgraded the stock to underperform from buy with a price target of $445.
Earnings Reports (10/19/2026)
AGNC Investment Corp (AGNC), BOK Financial Corp (BOKF), Cleveland-Cliffs Inc (CLF), Crown Holdings Inc (CCK), Fifth Third Bancorp (FITB), FNB Corp/PA (FNB), RLI Corp (RLI), Steel Dynamics Inc (STLD), W R Berkley Corp (WRB), Western Alliance Bancorp (WAL), Wintrust Financial Corp (WTFC), Zions Bancorp NA (ZION).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Strength in Chipmakers and AI-Infrastructure Stocks Lead the Broader Market Higher

Key Points
Investors sold off Micron on competition fears last week.
Over the weekend, Wall Street sounded the all clear, predicting rising memory prices through at least 2027.
Last week was miserable for Micron (NASDAQ:MU) stock, with the maker of DRAM and NAND flash memory chips losing nearly 15% on worries that Chinese DRAM company ChangXin Memory Technologies was bringing to market "4F square" technology to increase DRAM storage density -- and begin stealing market share from Micron.
Monday morning, things are looking better for Micron, though, and the stock is up 4% as of 10:35 a.m. ET.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Image source: Micron.
Dell sounds the all-clear for memory stocks
You can thank Michael Dell for that -- and Wall Street bankers, too.
Quoted in The Wall Street Journal Friday, the Dell founder CEO predicted the ongoing shortage of computer memory is "gonna get worse" in 2027. Perversely, that's good news for Micron because when memory supplies are too low, memory prices go higher -- and so do Micron's profit margins.
Separately this morning, analysts at Wall Street banks Mizuho and KeyBanc both chimed in to support memory stocks. Mizuho predicts demand for agentic AI will keep NAND supply tight and force prices higher throughout 2027. KeyBanc likewise predicts price increases in NAND, as reports.
What it means for Micron stock
Admittedly, NAND demand is more of a bull case for Sandisk than for Micron. Micron only gets about 26% of its revenue from NAND flash sales, after all; 73% of its business is in selling DRAM, and Micron is in fact the world's third-biggest supplier of DRAM.
But that's fine. Even a small boost to NAND prices, on top of the price hikes it's already enjoying, is good news for Micron. With the stock already trading under 25 times trailing earnings -- and just 7x forward earnings -- Micron stock still looks like a buy to me.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 19, 2026.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Why Micron Stock Bounced on Monday

Key Points
Micron has moved to reduce the cyclical nature of its business, but the market hasn't adjusted how it values the stock.
With memory chip prices continuing to rise and new production facilities coming online, the company expects further major growth ahead.
Micron (NASDAQ: MU) is undergoing one of the biggest shifts of nearly any stock in the market. It's seeing unprecedented demand for its memory chips and is also helping to transform its industry at the same time. The moves it's making are upending some of the long-established understandings regarding its business, but the market hasn't caught up to those changes yet.
I think this could be one of the greatest investment opportunities out there right now, as I could easily see a $5,000 investment made in Micron now growing into a $25,000 position by 2028.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
The memory chip industry is shifting
Micron makes memory chips, and that has historically been an extremely cyclical industry. There's little to differentiate one memory chip brand from another, so the chips have practically become commodities. Pricing is dictated almost entirely by supply-and-demand dynamics, and right now, demand from AI data centers has eaten up all available supply. The resulting deep shortage has caused memory chip prices to soar.
So Micron is enjoying monster growth, with revenue skyrocketing nearly 380% year over year in its most recent quarter. However, it isn't just sitting around enjoying the gains. It's using this opportunity to reshape its business model.
While it's great to sell any commodity during a supply crunch, the opposite is true when there's a glut, and when this AI demand wave is over, a glut can be expected. As a result, Micron is taking steps to secure its business strength for the longer term. It has entered into numerous multiyear take-or-pay agreements with large customers, and as of the end of Q3, it had locked in about 35% of revenue through 2030. These agreements have price floors and ceilings for its memory chips, which gives Micron much greater visibility into its finances over the next few years than it has previously enjoyed.
This could have only occurred with a major supply crunch, as it gave Micron bargaining power with its clients, and drove the customers to seek more certainty about their memory chip supplies. As more of these contracts come into play, it should reduce the cyclicality of the memory chip industry, which will be a great thing for Micron shareholders. However, the market hasn't started pricing that change into the stock yet, and this mismatch has created a golden opportunity for investors.
Micron's stock is dirt cheap
Because the market remains convinced that the next down phase of the memory cycle will eventually hit, Micron's stock is priced at a major discount. It trades for a mere 5.3 times earnings estimates for fiscal 2027 (which ends in August 2027).
That's the market flat-out telling investors that it doesn't believe in Micron's long-term growth story. However, the market just isn't listening to the memory makers. Micron management told investors that conditions in the memory chip market will be tighter in 2027 and 2028 than they are in 2026. As a result, prices will continue to rise. Micron is also building new production facilities, which are expected to come online in mid-2027 and late 2028. That will boost its capacity during a supply crunch, leading to even more revenue growth.
That will be a huge catalyst that isn't accounted for right now in 2028's projected growth rates. (Wall Street only projects 16% growth for 2028 right now.) I think it's more accurate to pencil in a bit more aggressive revenue growth, like 30%, although I still think that's a major undershoot.
For fiscal 2027, Wall Street thinks Micron will generate $176.55 in earnings per share (EPS). If earnings grow by 30% in fiscal 2028, that would lift EPS to nearly $230. If the market adjusts to the idea that Micron isn't as cyclical as it once was, it may price it at 20 times earnings. That valuation with $230 in EPS would give it a stock price of $4,590.
From today's $920 share price, that suggests the stock could increase fivefold, turning a $5,000 investment into about $25,000. That makes Micron a top AI stock to buy now.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 18, 2026.
Keithen Drury has positions in Micron Technology. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Here Is What a $5,000 Investment in Micron Could Be Worth by 2028

Key Points
Musk has called Taiwan Semiconductor one of Tesla's most important partners.
Micron already works with the automaker and sees a huge opportunity in robotics and memory demand.
Panasonic has a long relationship in manufacturing batteries for Musk's vehicles and could get involved with robotics as well.
Elon Musk has big plans for Tesla (NASDAQ: TSLA) that go well beyond electric vehicles (EVs). The Tesla CEO has suggested that the company's Optimus humanoid robot could eventually become its most important product, with applications ranging from factory work to household chores. But turning that vision into a profitable business will require enormous investments in computing power, memory, and batteries.
Tesla is working toward commercial production of Optimus, and the EV maker's bulls, including Cathie Wood at Ark Invest, believe it could be a huge opportunity for the stock. And as Tesla works toward commercial production, some of its established technology partners will likely start reaping the rewards, even before the first Optimus robot hits the market.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Here are three of those stocks worth watching.
1. Taiwan Semiconductor Manufacturing
Many investors swear by the "Magnificent Seven" group of tech stocks, but I think Taiwan Semiconductor Manufacturing (NYSE: TSM) may be better than any of them. TSMC, as it's known for short, is the world's largest chip manufacturer, producing advanced semiconductors for every member of the Magnificent Seven, including Tesla.
In the EV company'searnings callin July, Musk highlighted TSMC as one of his important chipmaking partners. And that relationship could become increasingly valuable as it develops Optimus, which will need powerful processors to interpret visual information, make decisions, and control its movements.
In TSMC's just-released earnings report for the third quarter, the company reported revenue of $46.72 billion, up 41% from a year ago. Even more importantly, advanced chips manufactured using processes of seven nanometers or smaller accounted for 79% of the company's wafer revenue. Those are precisely the types of manufacturing technologies that make it valuable to companies developing increasingly sophisticated AI processors.
Tesla's plans to develop its own chip manufacturing capacity could eventually create competition for TSMC. But building advanced semiconductor factories is extraordinarily expensive and technically demanding. For now, TSMC is collecting revenue from the AI computing boom while Tesla works on getting Optimus into customers' hands.
2. Micron Technology
If processors are the brains of humanoid robots, memory is what enables those brains to process information quickly enough to perform useful tasks.
That's where Micron Technology (NASDAQ: MU) comes in. It makes dynamic random-access memory (DRAM), high-bandwidth memory (HBM), and storage products essential to AI computing. Musk specifically thanked Micron during Tesla's Julyearnings callfor providing a substantial memory allocation to the company despite tight industry supplies.
And the opportunity extends well beyond Tesla. Micron CEO Sanjay Mehrotra has identified humanoid robotics as a potential source of future memory demand. In the company's fiscal fourth-quarterearnings call Mehrotra said that autonomous vehicles can require more than 200 gigabytes of memory and multiple terabytes of storage, and that humanoid robots could have comparable requirements.
That's a lot of memory for a machine that might eventually fold laundry or work in a warehouse.
3. Panasonic
Panasonic (OTC: PCRFF) has a long-standing relationship with Tesla, manufacturing lithium-ion batteries for its vehicles. And that expertise could become valuable in humanoid robotics.
Optimus will need rechargeable batteries that can deliver enough power to operate its motors, processors, and sensors without making the robot too heavy. And Panasonic has extensive experience producing high-performance battery cells.
The company is an established Tesla battery supplier, but a specific agreement to provide batteries for Optimus hasn't been publicly confirmed. The biggest question instead is whether Panasonic can turn its battery manufacturing experience into meaningful robotics revenue.
The bottom line
Musk believes Optimus could eventually become one of Tesla's biggest businesses, and Ark Invest's Wood is among the legions of Tesla bulls who agree. But it will take years of engineering, investment, and production before the robots begin coming off the assembly line and are available for commercial sale.
TSMC, Micron, and Panasonic already have established businesses serving Tesla or the broader AI market, and they seem perfectly situated to benefit from the work on Optimus.
Missed AI’s "Act 1"? Act 2 Could Be 14x Bigger
Most investors think they missed the AI boat because they didn't buy Nvidia in 2005.
But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout, a massive technology build-out that Google’s CEO says could be more profound than fire or electricity.
While everyone watches the chip designers, one "backbone" company provides the critical technology that Nvidia and AMD literally cannot function without. We’ve detailed this under-the-radar player in our new AI Playbook.
Patrick Sanders has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology, Taiwan Semiconductor Manufacturing, and Tesla. The Motley Fool has a disclosure policy.

Elon Musk Says Optimus Is Tesla's Most Important Product. These 3 Suppliers Get Paid Before Tesla Does.

Key Points
Micron, Samsung, and SK Hynix control the vast majority of the memory chip market.
Micron's stock has risen by 350% in the past year, even after this latest pullback.
Micron (NASDAQ: MU) has been on an extraordinary run for the past year. The memory chipmaker has benefited from surging demand amid the AI revolution, combined with limited competition. Micron's stock has skyrocketed nearly 220% in 2026, even after a recent pullback. The company, along with a handful of others, owns the vast majority of the memory market share. That could all change, however, if China has anything to say about it.
The threat to Micron's dominance comes from two state-backed Chinese companies. Yangtze Memory Technologies is aiming to overtake its competitors in the NAND market in the near future. It is currently ranked fifth by revenue, behind major players including Micron, Samsung (OTC: SSNLF), and SK Hynix (NASDAQ: SKHY).
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
DRAM is where Micron is exposed
The bigger threat is in the DRAM market, which accounts for 73% of Micron's revenue as of last quarter. ChangXin Memory Technologies is about to launch a new, denser chip by the end of the year. This is an issue for Micron, as it will not only erode the company's market dominance but also undermine its pricing power.
In the short term, Micron still has an incredible competitive moat. The company's high-bandwidth memory business is generally safe for now. However, DRAM and NAND businesses could suffer more as China creates cheaper models.
Micron's demand still exceeds supply and likely will for the next few years, but China's competitive threat is real and could erode Micron's margins over time. Micron's run isn't over, but I do expect growth to slow. It's still a worthwhile investment for long-term investors, though.
Should you buy stock in Micron Technology right now?
Before you buy stock in Micron Technology, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Micron Technology wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 17, 2026.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Is Micron's Incredible Run About to End?

Key Points
QQQ has beaten the market over the past decade.
It provides instant exposure to the Nasdaq-100 for a low fee.
The growth of the cloud and AI markets will drive it even higher.
As interest rates and Treasury yields rise, more investors will likely sell their stocks to buy CDs, T-bills, and other low-risk fixed-income investments. That shift could cause many tech stocks, which were lifted higher by AI tailwinds over the past few years, to pull back sharply.
If that tech sell-off happens, investors should consider buying an exchange-traded fund (ETF) that tracks all of the top tech stocks rather than betting on a single stock's recovery. One of those top ETFs is the Invesco QQQ Trust (NASDAQ: QQQ), which passively tracks the Nasdaq-100. Let's see why it's still a compelling ETF to buy if the market pulls back this year.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
What does QQQ track?
The Nasdaq-100 comprises the 100 largest non-financial stocks in the Nasdaq Composite Index (NASDAQINDEX: ^IXIC). It intentionally excludes financial stocks, which account for roughly 3% of the index, because they're more dependent on interest rate cycles than on innovative new products or organic growth. The index is rebalanced quarterly and reconstituted annually, so it constantly prunes the weaker companies while adding higher-growth ones.
QQQ's top holdings currently include Nvidia (8.1% of its portfolio), Apple (7.7%), Microsoft (6.2%), Micron (4.5%), and AMD (4.2%). Those are also the S&P 500's (SNPINDEX: ^GSPC) biggest non-financial stocks, but QQQ allocates larger slices of its portfolio to each high-growth stock. The QQQ also doesn't include most of the S&P 500's slower-growth blue chip stocks.
Since QQQ is passively managed, it charges only a 0.18% expense ratio. That's much lower than the average expense ratio of 0.44% for actively managed ETFs.
Why will QQQ keep growing?
QQQ's top holdings are all exposed to the secular expansion of the cloud and AI markets. Those tailwinds won't dissipate anytime soon.
According to Grand View Research, the cloud computing and AI markets could grow at CAGRs of 16% and 30.6%, respectively, from 2026 to 2033. If you want to capitalize on those trends but don't have the time to research individual AI chipmakers, cloud infrastructure providers, and AI software makers, it's a good idea to simply buy a basket of the top 100 companies.
Past performance never guarantees future gains, but QQQ has delivered an impressive total return of 549% over the past ten years, beating the S&P 500's total return of 324%. So if you can withstand some near-term volatility and don't plan to withdraw your money from the market for at least a few more years, it's a great idea to accumulate QQQ if the market crashes.
Should you buy stock in Invesco QQQ Trust right now?
Before you buy stock in Invesco QQQ Trust, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Invesco QQQ Trust wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 17, 2026.
Leo Sun has positions in Apple. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, Micron Technology, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Tech Stock Sell-Off: 1 Unstoppable ETF to Buy on the Dip in 2026

Key Points
Micron and Sandisk are getting many of their large customers to sign long-term agreements locking in price floors for years.
Memory chip prices will continue to rise in the short term.
The memory chip market has a history of being extremely cyclical. This can make investors unwilling to pay more for stocks like Sandisk (NASDAQ: SNDK) and Micron (NASDAQ: MU) when the companies are doing well, as the threat of the next inevitable downturn always lurks around the corner. This is why the market often undervalues these stocks relative to their tech sector peers in other niches.
However, we've never seen a demand wave for memory like this, and a major change could shift how the industry acts. So, is this time really different?
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Different types of memory have different attributes
There are two primary types of memory chips: DRAM and NAND. NAND flash memory is slower, retains data even without power, and is used mostly for long-term data storage. Both Sandisk and Micron make NAND, which often goes into solid-state drives that are heavily used in data centers.
DRAM can store and transmit data much more rapidly than NAND, but when the power to a DRAM chip is turned off, the data vanishes. This is the type of memory behind the RAM in computers. A subset of DRAM known as high bandwidth memory (HBM) is widely utilized in AI computing devices like GPUs. Micron also makes DRAM. Sandisk does not.
The question of whether "this time is different" for the memory market really depends on which type of memory you're talking about. When it comes to NAND memory, there isn't much to distinguish one product from another. SSDs are really just SSDs, give or take a few feature sets. So, unless some innovative technology is developed, pricing in this sector will largely be dictated by supply and demand.
Fortunately, demand for memory isn't expected to wane for years, as Micron recently told investors that conditions in the memory chip market will be worse in 2027 and 2028 than in 2026. So the NAND market will still be a great place to invest over the next few years.
The DRAM market, especially in HBM, is starting to evolve. Micron recently signed a deal with Nvidia to develop a custom HBM solution for its GPUs. That's a genuinely transformational change in this industry, as there are likely agreements in place between them that will reduce the commodity-like nature of memory chip pricing. Furthermore, Micron has been entering into strategic agreements with many clients that set longer-term floors and ceilings on memory chip prices. Many of those deals run through 2030 and 2031.
Sandisk is also starting to ink such deals. Its "New Business Model" agreements lock clients into committed sales volumes and structured pricing mechanisms. For its upcoming fiscal year, about 50% of its production volume has been contracted for in this manner, and that share rises to two-thirds in 2028. That's a huge shift, and it validates that these two are using this market reset to move away from the volatile pricing that has long been the norm in the memory space.
This is a major step toward reducing the cyclical nature of these two businesses, and as a result, the market may start to value them more like regular big tech stocks rather than as highly cyclical commodity businesses.
Both are cheaply valued
Based on this fiscal year's earnings projections for both stocks, they look cheap.
Most big tech stocks are valued at between 20 and 30 times next year's expected earnings. For these two to reach that range over the next year, they would have to triple or quadruple. It's unclear whether anything like that will happen, but with the cyclical nature of these two companies' businesses starting to fade, I think a repricing of their stocks is in order, making both of them smart buys now.
Should you buy stock in Sandisk right now?
Before you buy stock in Sandisk, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Sandisk wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $391,581!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,780!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 16, 2026.
Keithen Drury has positions in Micron Technology and Nvidia. The Motley Fool has positions in and recommends Micron Technology and Nvidia. The Motley Fool has a disclosure policy.

Micron and Sandisk Have a History of Cyclicality. Is This Time Different?

The S&P 500 Index ($SPX) (SPY) closed down by -1.09% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.50%. December E-mini S&P futures (ESZ26) fell -1.14%, and December E-mini Nasdaq futures (NQZ26) fell -2.51%.
Stock indexes sold off sharply on Friday, with the S&P 500 falling to a 2-week low and the Nasdaq 100 dropping to a 1-month low. Selling in chipmakers and AI-infrastructure stocks led the market lower on Friday, driven by concerns about whether companies will see returns on their huge investments in the AI infrastructure buildout. Also, CoreWeave sank more than -11% to weigh on cloud infrastructure stocks as concerns about the company’s credit risk linger.
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Stock losses accelerated Friday afternoon as crude oil prices soared more than 3% to a 1-month high, raising inflation expectations and fueling fears the Fed will keep raising interest rates to contain inflation.
Higher bond yields undercut stocks after Fed Chair Warsh made no remarks on monetary policy or his outlook for the US economy late Thursday evening at the IMF annual meeting in Bangkok. The 10-year T-note yield rose +1 bp to 5.09%.
Friday’s US economic news was mixed for stocks. The Sep import price index ex-petroleum rose +0.8% m/m, stronger than expectations of +0.6% m/m, the largest increase in 5 months and a sign of price pressures. However, Sep manufacturing production rose +0.3% m/m, right on expectations.
Stocks have support from the prospect of solid quarterly earnings results that began this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of Friday, 40 of the S&P 500 companies have reported results, with 78% beating estimates.
Nov WTI crude oil prices (CLX26) surged more than +3% on Friday to a 1-month high. Crude prices rallied on Friday amid a weaker dollar and concerns that escalating Middle East hostilities could disrupt regional energy supplies. Prices race to their highs Friday afternoon after US lawmakers introduced a bill to block President Trump’s deal with Russia to release several hundred million barrels of diesel fuel.
Markets are discounting a 17% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled higher on Friday. The Euro Stoxx 50 closed up +0.58%. China's Shanghai Composite closed up +0.24%. Japan's Nikkei-225 Stock Average closed up +1.39%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down -2.5 ticks on Friday. The 10-year T-note yield rose +2.7 bp to 5.085%. Dec T-notes were under pressure Friday after Fed Chair Warsh's lack of guidance at the annual IMF meeting in Bangkok weighed on T-notes. Also, Friday’s +3% surge in WTI crude oil to a 1-month high raised inflation expectations and weighed on T-notes. Friday’s stock plunge sparked safe-haven buying of government debt and limited T-note losses.
European government bond yields were mixed on Friday. The 10-year German bund yield rose +1.3 bp to 3.426%. The 10-year UK gilt yield fell -0.2 bp to 5.373%.
ECB Governing Council member and Bundesbank President Joachim Nagel said. "The ECB has raised interest rates twice, and if the situation remains as it is, we don't rule out the possibility that we may have to take further action."
Markets are discounting a 10% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks continued their week-long slide on Friday, weighing on the broader market. Seagate Technology Holdings Plc (STX) closed down more than -7%, and Western Digital (WDC), SanDisk (SNDK), and ARM Holdings Plc (ARM) closed down more than -6%. Also, Advanced Micro Devices (AMD), Micron Technology (MU), Intel (INTC), and Marvell Technology (MRVL) closed down more than -5%, and Lam Research (LRCX), KLA Corp (KLAC), Applied Materials (AMAT), and Broadcom (AVGO) closed down more than -4%. In addition,
CoreWeave (CRWV) closed down more than -11% to weigh on cloud infrastructure stocks as debt concerns linger after swaps priced in more than a 50% chance the company will default on its debt within five years. Also, Nebius Group NV (NBIS) closed down more than -12% to lead losers in the Nasdaq 100, and Applied Digital (APLD) closed down more than -11%. In addition, Lumentum Holdings (LITE) closed down more than -5%, and Oracle (ORCL) and Arista Networks (ANET) closed down more than -4%.
The Magnificent Seven stocks, excluding Apple, fell on Friday and weighed on the overall market. Meta Platforms (META) closed down more than -3%, and Alphabet (GOOGL) closed down more than -2% to lead losers in the Dow Jones Industrials. Also, Tesla (TSLA) closed down more than -2%, and Amazon.com (AMZN), Microsoft (MSFT), and Nvidia (NVDA) closed down more than -1%. Apple (AAPL) bucked the trend and closed up +0.43%.
Cybersecurity stocks retreated on Friday. Okta (OKTA) closed down more than -10%, and SentinelOne (S), Fortinet (FTNT), Crowdstrike Holdings (CRWD), and Palo Alto Networks (PANW) closed down more than -7%. Also, Cloudflare (NET) closed down more than -6%, Zscaler (ZS) closed down more than -5%, and Gen Digital (GEN) closed down more than -2%.
Energy producers and service providers rallied on Friday after WTI crude oil rose more than +3% to a 1-month high. APA Corp (APA) closed up more than +4%, and Diamondback Energy (FANG) closed up more than +4% to lead gainers in the Nasdaq 100. Also, ConocoPhillips (COP) and Devon Energy (DVN) closed up more than +3%, and Chevron (CVX) closed up more than +2% to lead gainers in the Dow Jones industrials. In addition, Baker Hughes (BKR), ExxonMobil Holdings (XOM), Occidental Petroleum (OXY), and SLB Ltd (SLB) closed up more than +2%, and Halliburton (HAL) and Phillips 66 (PSX) closed up more than +1%.
Defense contractors rose on Friday as the companies are set to benefit from increased defense spending. Northrop Grumman (NOC) closed up more than +4%, and Lockheed Martin (LMT), RTX Corp (RTX), and L3Harris Technologies (LHX) closed up more than +3%. Also, General Dynamics (GD) closed up more than +2%, and Huntington Ingalls Industries (HII) closed up more than +1%.
Defensive food producers moved higher on Friday amid the slump in the broader market. Kraft Heinz Co (KHC), McCormick & Co (MKC), J M Smucker (SJM), Hershey Co (HSY), Hormel Foods (HRL), and Mondelez International (MDLZ) closed up more than +1%.
Omeros (OMER) closed down more than -14% after the European Medicines Agency issued a negative opinion on the company’s application for its narsoplimab therapy.
Earnings Reports (10/19/2026)
AGNC Investment Corp (AGNC), BOK Financial Corp (BOKF), Cleveland-Cliffs Inc (CLF), Crown Holdings Inc (CCK), Fifth Third Bancorp (FITB), FNB Corp/PA (FNB), RLI Corp (RLI), Steel Dynamics Inc (STLD), W R Berkley Corp (WRB), Western Alliance Bancorp (WAL), Wintrust Financial Corp (WTFC), Zions Bancorp NA (ZION).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.